Scholz Says Germany Needs to Act to Tackle Historic Inflation
- Chancellor seeks common cause to ease cost-of-living burden
- New inflation-fighting policies to be developed in next weeks
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Chancellor Olaf Scholz said Germany needs to act quickly to tackle an “historic” surge in the cost of living, comparing the situation to the inflation crisis of the 1960s and 70s.
The German leader convened representatives from employers, unions and the Bundesbank to come up with measures to ease the pain for consumers. The goal of the rare joint effort is to develop inflation-fighting policies in the coming weeks, he said on Monday after the first meeting.